The security of a Blockchain is a serious matter for developers and users of these technologies, especially when the implementation of this technology is increasingly bigger and security is of vital importance.
To determine the security of a blockchain,developers use several mechanisms, some of themare advanced cryptography techniques, behavior models, mathematical decisionmakingand crypto-economy analysis.
Maintaining the security of a blockchain isn’t as simple as it seems, especially when the greatest percentage of its application refers to the generation of cryptocurrencies, digital assets with a considerable power of transaction and acquisition, which makes them prone to cyber-attacks and infiltration of malicious codes.
Two of the most important features of Blockchain are the consensus and immutability, which, combined, provide the basis for the data security in a blockchain. While the consensus algorithms make sure that the rules of the system arerespected, the immutability guarantees the integrity of the data records and transactions, after each new block is confirmed as valid.
In a Blockchain, cryptography is basic for security, both for securing the confidentiality of the information and for the main processes of operating in the network.The composition of basic elements for the validation of the blocks of a chainderive from cryptography, the hashis one of these basic elements, which also plays a vital role in the security and immutability of a blockchain.
Additionally, a blockchain can add cryptographic algorithms to its protocol, whichhave been verified in their security, as it’s the case of the known Rijndael algorithms classified as AES-128, AES-192, and AES-256, the most popular algorithms used in symmetric cryptography to guarantee the security of information.
The concept of crypto-economy in the security of a blockchain is related tothe so-called game theory that creates the mathematical method of making decisions by rational actors, in systems with rules and arranged rewards, which shapes and describes specifically the behavior of the nodes that are part of a blockchain.
This security system analyses the economic aspects of the blockchain protocols regarding the behavior of the participants, focusing on the general notion that the blockchain systems generate greater incentives than the nodes that have an honest behavior, which is shown in the PoW protocol of Bitcoin.
Likewise, this system shows that in protocols such as Bitcoin’s, the possibilities of a malicious behavior decreases due to the great amount of time investment and energetic consumption that a node needs to validate the block, which is an unnecessary expense because the dishonest miner runs the risk of being identified as malicious and losing all the work invested.
In Arian we have put special attention to the security guarantees for the information handled inside our blockchain, implementing the cryptographic algorithm AES-256, considered as one of the most secure in the world and praised by the U.S. National Security Agency(NSA).
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